Commerzbank Aktiengesellschaft FI Decreases Position in Caterpillar Inc. $CAT

Key Points

• Commerzbank Aktiengesellschaft FI has reduced its stake in Caterpillar Inc. by 45.7%, now holding 167,390 shares valued at approximately $64.98 million.
• Despite Commerzbank's decrease in shares, other institutional investors, such as Valeo Financial Advisors LLC, have significantly increased their holdings, showcasing a contrast in investment strategies.
• Caterpillar recently announced a quarterly dividend of $1.51 per share, reflecting a 1.2% yield and a payout ratio of 30.72%.

Commerzbank Aktiengesellschaft FI reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 45.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,390 shares of the industrial products company's stock after selling 141,001 shares during the period. Caterpillar makes up about 1.5% of Commerzbank Aktiengesellschaft FI's holdings, making the stock its 23rd largest holding. Commerzbank Aktiengesellschaft FI's holdings in Caterpillar were worth $64,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC increased its holdings in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company's stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock worth $1,386,626,000 after buying an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after acquiring an additional 150,533 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the transaction, the chairman directly owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,819 shares of company stock valued at $16,885,492. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

CAT has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup raised their price objective on shares of Caterpillar from $540.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $478.20.

Caterpillar Stock Down 0.4%

CAT opened at $500.10 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The business has a 50 day simple moving average of $441.97 and a 200-day simple moving average of $382.85. The stock has a market capitalization of $234.29 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.05 and a beta of 1.46. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.99 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.2%. Caterpillar's dividend payout ratio is 30.72%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.